More Voters Say ‘Inflation Reduction Act’ Will Increase Inflation than Think It’ll Reduce Inflation

Craig Bannister | August 22, 2022 | 3:15pm EDT
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More of the nation’s registered voters think the $740 billion “Inflation Reduction Act” will actually increase inflation, than say it will lower it, a new Morning Consult/Politico poll reveals.

Voters are dubious that the Democrats’ massive spending package will live up to its name, the Morning Consult reports, announcing results from its survey of 2,005 registered voters, conducted August 12-14, 2022:

“Democrats’ hard-fought spending package was signed into law by President Joe Biden on Tuesday, delivering hundreds of billions for climate and health care policy initiatives as well as increased funding for the Internal Revenue Service.

“A new Morning Consult/Politico survey, however, finds an electorate skeptical that the Inflation Reduction Act will live up to its name, though still supportive of most of the individual measures that make up the package.”

Just 24% of those surveyed say the Inflation Reduction Act will reduce inflation – but, 34% think it will make inflation worse. Another 23% say it won’t have any impact on inflation. The remaining 19% didn’t respond or didn’t know.

Democrats have more faith than Republicans that the measure will reduce inflation. But, by more than a two-to-one margin, Independents say it’ll increase, rather than decrease, inflation (33%-15%).

Fully 59% of registered voters hold the Biden Administration either “very responsible” (38%) or “somewhat responsible” (21%) for the current inflation. Another 16% say the Biden administration is “not too responsible.” One in six (15%) say the administration is “not responsible at all.”

The survey also finds that voters trust Congressional Republicans (46%) more than Democrats (37%) to handle inflation. Independents trust Republicans over Democrats, 39%-25%.

An overwhelming percentage of the nation’s likely voters are concerned about the effect of inflation on their lives, results of a Rasmussen survey released Monday show:

“The latest Rasmussen Reports national telephone and online survey finds that 85% of Likely U.S. voters are at least somewhat concerned about inflation, including 57% who are Very Concerned. That’s almost unchanged since May.  

“The survey of 1,000 U.S. Likely Voters was conducted on August 17-18, 2022 by Rasmussen Reports.”

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